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Southeastern Grocers Inc, the operator of U.S. supermarket chains Winn-Dixie and Harveys, decided on Thursday to cancel its initial public offering, the second time in recent years that it pulled an IPO.
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NEW YORK (Reuters) - Southeastern Grocers Inc, the operator of U.S. supermarket chains Winn-Dixie and Harveys, decided on Thursday to cancel its initial public offering, the second time in recent years that it pulled an IPO.
Southeastern Grocers did not specify the reason for withdrawing the IPO. The company made the decision due to a lack of demand at the price range it was targeting, Reuters reported earlier on Thursday, citing a person familiar with matter.
“The company will continue to evaluate the timing for the proposed offering as market conditions develop,” Jacksonville, Florida-based Southeastern Grocers said in a statement.